D.C. Hivemind Mulls How Clinton Can Pass Huge Corporate Tax Cut

Treating the whole voting thing as a formality, serious political players are now pondering how exactly President Hillary Clinton can pass what Sen. Elizabeth Warren has called “a giant wet kiss for tax dodgers.”

This discussion isn’t happening on television, where normal people would hear about it. Or on Reddit, where people would freak out about it. To the degree it’s taking place in public at all, it surfaces in elite publications, where only elites are paying attention.

For instance, Peter Orszag, a top Obama economic official before he left to cash in with Citigroup, just wrote an op-ed in the Financial Times on how to make the wet kiss happen.

Few regular Americans read the Financial Times, and even if they did, what Orszag says requires a little deciphering:

What, then, are the prospects for new initiatives in a Clinton administration? … Mrs Clinton has … proposed $275bn in new infrastructure spending over five years, $250bn in direct federal spending and $25bn to set up an infrastructure bank. The question is how to finance this spending.

Deficit financing may be sensible but is anathema to House Republicans. So additional revenue from corporate income tax is commonly proposed. And that is where things become difficult.

There is some bipartisan agreement — for example, that profits already accumulated overseas by US companies should be subject to a tax rate well below the statutory 35 per cent, regardless of whether those profits are repatriated. But there is little consensus on whether such a tax should also apply in future and what the rate should be. …

To create room for the necessary compromises, Mrs Clinton would do well to avoid too many fights with her own party about whom she appoints to her administration. Some senior congressional Democrats on the left are already preparing to oppose “hell no” candidates who have worked in finance. If Mrs Clinton largely defers to them, however misguided their approach, she may end up with more flexibility to negotiate later with a Republican Congress.

Take the last paragraph first.

What Orszag is doing is offering Clinton friendly advice on how to beat her own party to make a deal with Republicans.

Unfortunately, writes Orszag, there are “misguided” Democrats “on the left” who could thwart her.

So, he says, she should quiet down the troublesome Warren wing of the party by giving them a little of what they want — and not appoint Wall Street and corporate executives to oversee their own industries. Orszag believes this will give Clinton space to maneuver on actual policy.

And what is that policy that Orszag wants?

American multinational corporations are currently holding $2.4 trillion in profits overseas.

A significant chunk of this was, by any rational accounting, actually earned in the U.S. However, American companies like Apple use legal chicanery to make much of their profits appear to be “earned” in foreign, low-tax countries like Ireland.

They do this because they don’t have to pay taxes on overseas profits at the U.S. statutory rate of 35 percent until they bring it back home — so they’ve been refusing to do that until they get a sweetheart tax deal.

Corporate America already got such a deal in 2004, when a tax holiday lowered the rate for repatriated profits to 5 percent. Overseas profits have since then re-accumulated on a gargantuan scale, and U.S. corporation feel they have the leverage to cut a new deal that will go much further than in 2004.

First, they want a special tax rate for the $2.4 trillion when it’s brought back to the U.S. As Orszag puts it, there is “bipartisan agreement” that it should be “well below the statutory 35 per cent.” Donald Trump has proposed 10 percent. Several years ago Sens. John McCain, R-Ariz., and Kay Hagan, D-N.C., suggested 8.75 percent (down to 5 percent if a company expanded its U.S. payroll).

Second, they want to create a new, permanent tax rate for overseas profits that’s as close to zero as possible. This would essentially institutionalize the 2004 tax holiday. They could then continue using accounting trickery to “earn” money overseas, but without the bother of having to arrange tax holidays on an ad hoc basis.

Third, they want to slash the 35 percent corporate tax rate on their domestic profits. Trump’s economic proposal would bring it down to 15 percent.

But why would the U.S. political system, even as cowed as it is by money, agree to this?

The answer is that America’s infrastructure — airports, roads, tunnels, bridges — is falling apart. We desperately need an upgrade, something which also would have the positive side effect of creating thousands of good jobs.

The Democrats want to make this happen, badly. As Orszag notes, Clinton has proposed $250 billion in infrastructure spending.

But as Orszag also notes, Republicans will absolutely refuse to appropriate new money.

That’s where Corporate America’s leverage comes in. Their plan is to “allow” the U.S. Congress to lightly tax their $2.4 trillion in overseas money and use that for infrastructure spending — as long as they get everything else they want.

Clinton has never said publicly that she will agree to this, and just this week one of her key economic advisors refused to say where she wants the money for her infrastructure plan to come from. There’s a good reason for this; as the Wall Street Journal notes, “waiting to take a position could spare her from immediate blow-back from more liberal Democrats and give her something to give away during negotiations with Republicans next year.”

Indeed, we now know from her leaked, private corporate speeches that this is exactly what she has in mind. She is fine with a “really low” tax rate on repatriated profits, and a lower corporate tax rate overall “certainly could be on the table” if it were “part of a broader package.”

Conveniently enough, the amount of money Clinton’s looking for, $250 billion, is almost exactly the amount of revenue that a Trump-like 10 percent tax on $2.4 trillion would deliver. And as she said in her private speeches, she’s also interested in getting corporations to invest another chunk of their overseas profits in an infrastructure bank.

So even as regular Democratic voters are concentrating on beating Donald Trump, the serious people of Washington are quietly putting the wheels in motion for what those same voters will find to be a highly unpleasant 2017 surprise.

Top photo: Peter Orszag, then-director of the Office of Management and Budget, talks with guests at the White House on July 22, 2010.

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Through all of the snark and cynicism of this article it’s hard to see what exactly Mr. Schwarz proposes as an alternative to repatriation at a reduced rate. Assuming Republicans maintain their position in the House, repatriation at the 35% level is likely to be a non-starter. On a permanent basis there are significant justifications for lowering the corporate tax rate (international comparability, closing loopholes, etc.) while reforming other elements of the tax code to ensure revenue doesn’t decline on an absolute basis.

Mr. Schwarz also assumes this will be an “unpleasant surprise” for Democratic voters. Perhaps it will but he provides no evidence of this (e.g. through answers to polls).

Instead of giving a more thorough and intellectually honest treatment of the complex and important issues of corporate taxation (and federal taxation generally) Mr. Schwarz opts for a tone of condescension without much substance to justify it.

Honestly, since GG has pulled back (for reasons I don’t know) from writing more material, the quality of “reporting” at the Intercept has declined substantially. I still come here on a semi-regular basis but the perspectives I find are mostly predictable and I don’t learn new things the way I used to reading Glenn.

All this, of course, is why corporatists and smart GOPers are bailing out of the hopeless Repub Party and signing on to the New Dems, the true heirs of the Reagan Legacy. Wars and Tax Cuts have replaced bread and circuses, because nobody cares if the rabble is happy or not. Wall Street, corporatists and the MIC is who needs to be kept happy in the 2lst century, because 2lst century politics is all about money, and that’s who has it. The rabble will just get along as best they can, and do nothing. That is the thinking of the Best Minds.

The Intercept is supposed to be hard-hitting journalism? So you take the opinion of a long-since departed Obama staffer, add in some of Trump’s economic proposals, make a few assumptions and therefore assume without any supporting evidence, that this is what Clinton wants? If you want to write opinion pieces, fine. I suppose this all works as long as readers buy your “deciphering”. But I can read and think for myself, and what I see is a bunch of conflated nonsense designed to make your figure of hatred, Hillary Clinton, look bad, whether there be evidence or not. Try again.

During an October 13, 2014, speech to the Council of Insurance Agents and Brokers, Clinton told the audience that “A number of business leaders have been talking to my husband and me about an idea that would allow the repatriation of the couple trillion dollars that are out there. And you would get a lower rate — a really low rate — if you were willing to invest a percentage in an infrastructure bank.”

– shows that it is the home office of Megan Rouse Financial Planning. Who is Megan Rouse? Well, that is of course his daughter. Having trouble believing that factoid, see emailid/10948. Where 1/3 of the way down John Podesta writes,

“Tony previously sent you the attached invite to a reception and fundraiser
for our daughter Megan Rouse, who is running for School Board in Dublin, CA.”

Now, back to the attachment in Podesta’s email requesting a transfer of shares:

Podesta emailid/4221 – see the attached pdf:

“I confirm that each of the above-mentioned entities is either a custodian or trustee of any trust, partnership or limited liability company for the benefit of, or the ownership interests of which are owned wholly by myself or any of my family members and that the above-referenced transfer is for bona fide estate planning purposes pursuant to the requirements and as set forth in the Fourth Amended and Restated Right of First Refusal and Co-Sale Agreement, as amended, among the Company and the other parties therein.”

Okay, all of you fucking Hillary huggers! Appearently the violence at trump rally’s were paid operatives of the HRC campaign. HRC is a paid foreign agent. Wow!
The proof HRC campaign is responsible for Trump rally violence comes from the link below…

You know, I always had a feeling that most (if not all) of the “violence” at Trump rallies was bogus. The kind of person who would wait in line for several hours in order to disrupt a political rally is the exact same kind of person who would provoke violence and then lie about it.

Linda Bilmes at Harvard University claims? the wars in Iraq and Afghanistan will cost as much as $6 trillion when all is said and done, the report says:

The Iraq and Afghanistan conflicts, taken together, will be the most expensive wars in US history—totaling somewhere between $4 to $6 trillion. This includes long-term medical care and disability compensation for service members, veterans and families, military replenishment and social and economic costs. The largest portion of that bill is yet to be paid. [The Nation].

Fantastic Wall Street scam; of course, Hill will go for it, as will most Americans. This is like found money that most people don’t know about. Hillary will look like a strong leader, standing up to corporate interests, and the country will benefit from improved infrastructure. And not a penny needs to come out of the sacrosanct war budget!

Politicians of any type have always sold out the public to special interests. The constitution was written by the wealthy land owning elite, and in most cases only white European landowners were allowed to vote. Everyone else was considered not qualified to make important decisions. Women, Natives, indentured servants and landless laborers which made up almost 3/4 of the population were all treated as second class citizens.

Bob Dole in a fit of honesty stated when asked why the poor get so little consideration by the government said,”the poor don’t finance campaigns”. As true 30 years ago as it is today. Politicians pay less attention to those who vote for them in favor of those who pay so they can run for office.
Clinton was the Senator from New York does anyone think you can get elected to that office opposing the wishes of the most powerful financial institutions in the world?

As high powered persons in WDC, Manhattan, Wallstreet & corpo-rat headquarters everywhere have filled their coffers, they sit bored, not knowing what to do with their wealth except to buy resources and withhold it from the populations to extract more productivity under the threat of deprivation of life support. TECHNICALLY that is a CRIME called EXTORTION. But it’s not enforced.

Then again, these powerful persons just cant sit around and do nothing, having what they have, gotta do something, could get more. So they sit about and talk about what more they can do and have. And they set their sights on other countries to virtually invade, with networks of offices like a spider web and their spiders in those offices prepared to ensnare and bite their prey.

And when they have it all, to the point there is no more to take, they will want to spend less because once the extraction is complete, shelling out money for people is a waste of money. So then they will figure out how to dispose of the expense because those same people they deprived just become a problem with all their demands and protests.

If we vote for Hillary Clinton then we probably deserve her. Just as the BLM folks deserve Obama every bit. Looks like suicide bombing is a global phenomenon and not just restricted to Muslim Jihadi Terrorists.

…And so off they go to rob the rest of the world using a variety of tricks and tools.

It is bizarre watching Chomsky on YooToob talking about how insanely wealthy America is but then seeing how that wealth is distributed and how crappy and poor it now seems. I dropped the missus into East St Louis on Google Street View and asked her to guess where she was and she said Belarus or somewhere, and we live in the relatively slumdom of the Second World.

I don’t get it. Do these people just wank over their bank statements? What’s the point in having gazillions of dollars if you do jack shit with it except hide it and desperately try to make more? It’s like OCD in extremis. Gotta make more money, gotta keep it, make some more, hide it, make more and more, then count, wank over it, do it all again. Buy some politicians and some media mafiosa to do hit jobs on my enemies, make more cash. Sell some oil, groceries, real estate, software, digital media, weapons, take the profits, hide them, make more, count it, wank over it, puff up with pride at having hit my goals and made some more. Look in the mirror at a CHAMPION!

It is like they get a buzz off of being spiteful cunts, watching everyone else busting a ball to earn some crumbs from their Rich Man’s Table. It is part of the End Game for all this terrorism and trade agreements – get China into a corner so their leaders are forced to sell out then have a billion slaves ready to work themselves to death for a crumb a day, the only problem being everyone else will be too fucking poor to buy any of their overpriced products.

So, it must be Short-termism, that race to beat one’s peers and BECOME IMMORTAL like the gods of yore!!! Or something.

I’ve tried most drugs, most of them feel good for a while then after repeated use make you sick and depressed and boring to other people with normal lives and some level of decency. I thought about God a bit when I was a kid and decided that was a load of crap then. So real opium and the opium of the masses failed.

I’ve never really had any money, but I’ve known plenty who have had, but it is a fraction of what these people deal in. They can’t be getting some sort of Civil Pride as they avoid anything that might benefit the masses such as paying taxes, paying decent salaries, keeping jobs in America, and staying the fuck out of the democratic processes. I can’t believe they are that overly attached to anything slightly abstract such as a corporation or its products and services. I can’t believe they adore material things as there are only so many gold-plated toilet seats one can buy (plastic suffices as it doesn’t chill one’s arse when one sits on it any time between October and April), and I eat amazing food every day and I am a penniless cripple.

So it must be some obsession with large numbers – Megalarithmaphilia or something – and very possibly wanking over them (don’t know the Greek for wanking over your cash – maybe something like Aunaninoumismatikos). I guess it is not just Merchant Bankers then.

am i the only person who pays taxes? this world is getting worse, and honesty and integrity are no where to be found. jamie below blames liberal thinking? selfish heartless maggots will be the death of us all.

Excellent article — but it reflects flawed liberal thinking. Most large corporations like GE and Apple pay almost no income tax, We could cut corporate taxes to a flat 10% and collect the same revenue. As it stands now, small companies pay over 30% — while Obama’s fortune 500 buddies pay practically nothing.

The second flaw in liberal thinking is that we already collect 3.2 trillion in revenue. Liberals seem to think that throwing money at the government, by rich people, automatically assure a fairer distribution of the wealth.

Nothing could be further from the truth. Most revenue goes to bloated departments, like DOD, and then is funneled back into large defense contractor, like …. GE. In the Department of Education, billions go into pushing charter schools and closing public schools.

If we simply dismantled our military empire, 3.2 trillion would be more than enough revenue. For instance, Bernie Sanders proposed free college, but he foolishly voted for the 700 billion F35 fighter — which could have funded 10 years of free college. Instead of admitting his vote was hypocritical and wasteful, he called on new taxes for the rich — I guess so he could spend that money on overpriced weapon systems and free college.

Good point, well said.
Further, when it comes to large corporations parking money overseas in effort to avoid taxes. The taxpayer subsidized United States military which profess the holdings/assets of these corporation as, “national security interest[s], in reality protect these corporations at the expense of taxpayers without paying for such protection. Boy, Charlie and Capone must be turning over in their grave.

LIBERAL,adjective, LIBERTY,noun 34thWethePeople word.
Next, know that DISHONESTY is the problem here, not the politcal inclination. We saw this in the Reps now in the Dems.
CrookdClinton made DNC into the DOUBLECROSS PARTY.

Keep in mind that the 204 experiment in lightly taxing repatriated foreign profits failed. It did not generate American jobs. Corporations used the funds to buy back stock, pay dividends, and increase executive compensation.

The only solution is full and current taxation on world-wide income. Companies can pay the full § 11 corporate income tax on ALL their profits stashed offshore. they have all the cash they need to pay that tax, and pay it now. No forgiveness of past profits, and no reduced rate of taxation.

Right you are! The left and right in this country are small splinter groups with essentially no political influence. What we have is people who are really neo-libs and neo-cons, with no coherently articulated political philosophies but whose motivation can be ascertained by simply watching their behavior: follow the money.

What remains of the left in the US is the Green party, of which I am a member. It is currently polling at around 2%. Just imagine: only 2% of Americans favor social justice. No matter. I am voting for Jill Stein in November because it is the right thing to do. If it results in Hillary or Donald being elected, then it is the fault of those who voted for them, and the country will be getting what it richly deserves.

The root problem, of course, is that other countries tax American multinational corporations too little. If those companies had no foreign profits, there would be no need to repatriate them and this whole problem would go away.

Recently, the EU helpfully told Ireland to collect another €13bn from Apple. This doesn’t solve the problem, but if other countries where Apple operates do the same thing, it will certainly help make a dint in it.

In the world we have created, multinationals have complete freedom of movement and walls are built to prevent movement of people. In this situation, taxes on people will inevitably rise, since they are sitting targets, and those on multinationals will fall, since they can easily move their operations to the lowest tax jurisdictions. Governments tax as much as they can – I don’t blame them. But they’re often tempted into giving Apple a sweetheart tax deal, in order to attract investment. Apple naturally thinks they should be the beneficiary of this largess, but it is the US taxpayer who has funded the international trade agreements that make this possible and the hundreds of foreign military bases that help to enforce those trade agreements. So they should wet their beak too.

The constitutional responsibilities of the federal government are to maintain order and provide national defense, so spending on wars should be the first priority. However creating detainment camps, building new prisons and modernizing the nuclear defense arsenal also takes money, so I support Mrs. Clinton’s infrastructure initiative.

You’re just about dead on here, but there’s one little bit you miss: the rich can immigrate wherever they want. Countries roll out the red carpet for special investors. And so by your logic, which is impeccable, the rich also can’t be taxed.

Benny: Recently, the EU helpfully told Ireland to collect another €13bn from Apple.

We see now that the EU is on its deathbed, as reported in many places. Can’t survive, prognosis not so good, due to moves like this, trying to get at the funds that are locked away by sweet deals. Swissies, Luxies, and the fine folks from Jersey are all outside the EU’s reach. Too bad for the Dutch and Irish, unless the EU collapses, then its free money for everyone who has a good law firm like Mossack Fonseca.
We gotta face it, we (the global you and me) ain’t gonna benefit from any of the deals any of the Governments efforts to reap or repatriate taxes owed to us.

These large corporations have the financial power to hide funds overseas, let the funds build up, and then dangle a few dollars in front of the American public while they try and keep a truckload for themselves. In the meantime the small business man and women does not have this same opportunity and will pay their full tax share. The people are no longer in charge and we have lost our country.

Ever wonder why Putin has been demonized? It’s simple; he threw the richest parasite (Jewish too) in jail and made it stick. (By the way, there is a deal between the US and Russia on Syria and Putin is willing to make it public but Ohypocrit refuses). Why do people never wonder how the rich get away with it; why the peoples representatives are nothing more than sock puppets for wealth–Orzac being an example of making good. Money isn’t anything; it’s like music or mathematics, constantly being created and destroyed. Warren was a Toad for Obama and I doubt she has grown a pair or ever will. The entire accounting industry is nothing more than a giant scam covering up the transfer of wealth from the workers to the parasites. The whole thing is so big, so omnipresent, so corrupt and corrupting it’s untouchable like the Catholic church in it’s heyday only worse. Trump is a part of it and understands the basics of it and might actually tax the fat cats which IMHO is the real reason he can never be allowed to get near the WH. Scum bag, Mysogenist; have the people so soon forgot blow job Bill with the biggest disproportion of power in history, POTUS vs. the Intern. Dubya; a drunkard and philanderer and lets not forget the Kennedys peccadillo’s and even hiring the Mafia to assassinate a foreign leader. No, I don’t believe Trump’s warts will keep him out of the WH; Lady MacHillary is covered with them; there is something else going on here.

It’s sad that the best news site on the internet attracts such genetically engineered racist dipshits of your caliber. If I were stupid I would call it a conspiracy: instead I will call you a conspiracy of stupid.

some people work, do things, earn a living, modest and humble
other people collect things, to own, have power, ambitious

The current currency system in the US is a scam developed by those who want to own it all. The system was designed for that and ponzi pricing is one of it’s characteristics. There are many horrible side effects in addition to a very bad end for the planet and civilization because of it’s demand for accelerating prices and population.

What’s going on here is that the planetary predators of wallstreet need hellary to keep running their game on America and the planet. Wallstreet won’t get that with Trump because Trump will put resources into building a foundation. Wallstreet thieves dont want a foundation, they want conflict ruination and war so they can keep their print-to-loan-to-own criminal empire going.

Hillary and her band of thieves are stupid.
Donald is not stupid. He is smart. Thieves cannot compete with smart.

OMG a tax plan that will get corporations to pay for $275b in infrastructure improvements and has a good chance of satisfying both parties. How can we stand for this !!!!! No wonder those commenting on TI are outraged.

The corporations should’ve already paid a lot more than that in taxes, allowing a lot more infrastructure improvements via federal spending.

It’s remarkable that you think something which satisfies both parties is a boon, or even noteworthy. Other things which have satisfied both parties: illegal surveillance; entrapment of mentally addled muslims; mass deportation; propping up dictators and overthrowing democracies; waging wars of choice; maintaining the wealth-disparity status quo; militarizing local police; mass incarceration…

For better or worse that is the way our political system currently works. Getting $275b is better than getting nothing which is what we are getting now.
No matter who is elected laws have to be passed by the legislature. These days that usually requires bi-partisan support. What is your suggestion?

How about we give them a first year “incentive” tax rate of say 15% (isn’t that the next to lowest tax bracket to -0- that individual taxpayers get?) and then RAISE the rate for every year after that that they decide to “dally” (consider it an “incentive penalty” or a prod in the butt, your choice. Or tie the rate to the number of good-paying American jobs they create. But SICK of being held hostage. The other possibility is the more they balk, the more fervently our government officials look for competitors to fill those lucrative federal contracts. Encouraging competition is really a healthy business practice for providers AND consumers, isn’t that what we’re taught in school? Sooo, carrots on a stick. Which part gets used is up to them.

Oh and another thing by it’s definition “illegal surveillance” is not supported by both parties or it wouldn’t be illegal. I am unaware of anyone calling for or supporting the entrapment of “mentally addled Muslims” although I know it happens due to the FBI trying to bump up their stats. What mass deportations are both parties supporting? As for propping up dictators I have seen an awful lot of TI regulars who have been supporting Assad in Syria so propping up dictators seems to be something that happens on all ends of the political spectrum. Besides the whole thrust of your logic that supposes that because some bad things are supported by both parties that everything that both parties support is bad is faulty.

I go to the over worn cliche about a prosecutors indicting a ham sandwich. Which is true. Look what Obama’s DOJ did to Aaron Swartz . Some lawyers still can’t figure out what laws he broke. And at the other end the DOJ did want they damn well wanted to in ignoring criminal actions by banksters and coming up with bullshit justifications to let them go free. Bring in smart, motivated prosecutors who could make the case. ‘They can start here with the quote by the writer:

A significant chunk of this was, by any rational accounting, actually earned in the U.S. However, American companies like Apple use legal chicanery to make much of their profits appear to be “earned” in foreign, low-tax countries like Ireland.

What I read in that is that there is NOT some irony clad legal rules around the stashed money and oh my gawd are we the people ever screwed, but that there is NO will and courage to pursue prosecution except of course for the Aron Swchartz’s of the world.

On maybe a related note. I believed that one way or another, Bernie would go down as so much money was at stake. And I mean big money. What if Bernie won and he did bring in prosecutors who would do the proverbial take names and kick ass. And if he brought in the same with financial regulators. Imagine the financial consequences of just those actions.

Indicting is one thing convicting is another. This is an utter banality.
Of course any indictment may not lead to a conviction. This banality in no way argues against what I am saying.

Corporations tend to have decent lawyers..Another banality that leads to nothing. Because defendants can hire decent lawyers don’t charge them?

.. and when you havent broken the law to begin with not much chance of a conviction. Give us your expert legal opinion on this. Otherwise, it you are making assertions without proof.

I think you need a better plan. No your vague and shallow defense of corporate malfeasance and Clintons plan needs more than simple unsubstantiated assertions. My plan is better than capitulation to corporate power which you advocate.

Too funny. You admit the crux of your plan is a cliche and you accuse me of banality.
Your plan will do nothing except cost the govt money and collect money. I would love corporation to pay their fair share. The way to do that is to change the current tax code. Not in taking them to court for braking laws they didnt break.
Btw , i presented no plan vauge or otherwise. You are the one with the vauge plan with no details.

Since Hillary has a public and private opinion on everything, how can we believe anything she says? Then again, the Democrats and neocons are too busy hyping fear with 21 days to go. When they’re not hyping The Donald’s and Bill’s sex lives.

Thank you Jon for this.
I watched about “infrastructure” and “repatriated profits” the other day and wondered, why he did not run for President!!https://www.youtube.com/watch?v=ssfQPumxvgA
He is right… private money will only be for profits!

Beyond an infrastructure push, a President Clinton will probably have the most success where she can proceed without new legislation. Companies would thus be wise to read her comments about antitrust enforcement closely. Most of Mrs Clinton’s other policies, whatever their merits, are likely to remain mere talking points.

BTW- corporations are lucky i’m not president of the US because i would “appropriate whatever” money it takes to rebuild America because America comes first. If it takes all the corporate money, so be it. Tax rate? What tax rate? And i would fire the federal reserve and establish a bank and currency owned and operated by the citizens of America.

America does not live for corporations. Corporations live for America. Got that?

Then again, another election is only two years away, and sufficient attention and focus on this tax holiday may just be part of what keeps the Left paying attention.

If Hillary successfully shuts Warren up with neoliberal corporatist cabinet members who aren’t directly linked to the industries they’re overseeing but do their bidding anyway, the Left is going to be on her like an Alabama tick.

Warren is obviously going along to get along, but if her status as a champion of the little guy is revealed to actually be the champion of being suckered and played, and all those gushing online comments full of praise for her attacks on Wall Street turn into nasty condemnation about the, what, roughly $800 billion our treasury would be shorted by this “deal”, she may not like it one bit.

Of course, Bernie now has an Arkansas sized chip on his shoulder and is thinking about his legacy because he’s too old to run for president again, so he too may want to raise a stink about such a deal.

There are a lot of organizations on the left who need to burnish their image with some payback that can attract new members after rallying behind Hillary’s “Not Trump” agenda that doesn’t benefit them at all, there might be some Dems up for reelection that can be shamed, and there might even be some Repubs who need a way to become un-shamed…

… this issue seems like one of many where organized opposition starting before Hillary’s inauguration could gain the necessary steam.

Barring something from Wikileaks that’s worse than Trump, it may be wise for people who care about this country to start thinking about such things.

Overseas base costs alone would probably equal the amount needed. The structure of many of these large bases overseas is also one of the greatest examples of what successful socialism could look like in our modern day. Implementing similar things at home, minus the contractor bloat, would be a massive step in the right direction

If the Clintons are going with the number 2.4 trillion corporate tax haven dollars pirated out of our U.S. tax base how much more really is out there? Believing Clinton numbers is as bad as accepting those of CATO’s or the Heritage Foundation’s.

The American people have their taxes deducted up front right out of their paychecks.
Corporations utilize their bought and paid for amoral politicians to approve a tax code that grants them unlimited welfare. They then hypocritically cry for a combination of austerity for the masses, but free markets for mister corporate personhood.

Allowing the satisfaction of corporate greed via this foreign tax haven fiasco, and now ultimately not taxing what was not taxes to begin with is the equivalent of a burglar that stole a large sum of cash from your home, being found guilty at a trial, but a bribed judge merely sentencing the thief to keep the money as long as he spends it on something he finds pleasurable.

How about some form of confiscating sanctions on that two trillion? Like they did with Iraq, Iran and Russia. Treat that money like cocaine profits and suck it straight to the Treasury. Obama could do it during lame-duck time.

Yes, confiscate these cockroach corporations money that they have looted and stashed abroad in tax havens.They have cheated America out of tax revenue which could have been used for investment on infrastructure, hospitals, education and jobs. Treat that money like proceeds of crime.

As for Elizabeth Warren. Who cares. Sanders base was also her base. And Bernie’s base has been kicked out, marginalized, insulted, or made into Hillary zombies within the democratic party. A President Hillary Clinton will bury Warren politically at every level. Warren is now no more than a Siren of the Odyssey luring leftists to believe the democratic party is the place for their ideas of income equality or even believing the democratic party will even support a $15/hr min. wage.

Now I appreciate what Warren has done, and her fiery speeches. But within a year, the democratic party establishment won’t give a shit what she has to say.

Bring on the tax breaks. Well, bring on zero taxes more or less for corporations.

There is a point where cynicism is absolutely identical to reactionary support of oligarchical control. You are way, way, way past that point now. Why don’t you just admit you would be more comfortable with elites controlling everything, since you are so massively beyond all this kind of juvenile “resistance” and all.

Probably regular readers of this site won’t be surprised to learn that both major party candidates have similar positions on corporate taxation. It’s good that we have been warned, but of course the key decisions have been made already. Only irrational Tea-GOP opposition in Congress can save the day.

I do love these articles showing the neglect of our infrastructure, the “wet kisses” to corporations, etc.
Why isn’t the overblown “defense” spending mentioned?
Is it safe to say that far more cash has been exploited in the Middle East since 2004 than even the corporate tax dodgers have avoided?
Why is this perpetual spending now part of doing business as the US Gov’t?
Call Washington out first, or they will spend it on a defensive wet dream, militarizations, etc.

Yup. The incredible fee is not because Wall Street wants to hear what Hillary is offering, but rather the fee is for her to listen to their speeches on what they want. Those fees can remove an awful lot of ear wax.

it makes perfect sense to cut the corporate but only if the tax breaks, subsidies, and other corporate welfare end as well. corporations, and by extension all their customers paying the costs passed on to them, used to contribute 60% of federal income taxes. now it’s it’s 16%. corporations have offshored and leave idle somewhere between $1.5-2.5 trillion instead of invested in innovation, R&D, job training, etc., to avoid taxes. the corporate world is shortchanging america and damaging their long term prospects by focusing almost exclusively on short term profits, better known now as shareholder value, enrichment of the owner class.

“American companies like Apple use legal chicanery to make much of their profits appear to be “earned” in foreign, low-tax countries like Ireland.”

Pot…kettle…black — The Intercept is owned by an oligarch who uses the exact same “legal chicanery” to, for example, pay about 1 million in tax to the UK on profits of about 1.1 billion. The Intercept relies almost entirely on the corrupt tax system which gives its oligarch owner plenty of money from unpaid taxes to finance his playthings, or to subsume “dissidents” into the dominate paradigm. Corruption is as corruption does.

Not exactly on-topic, but not off-topic either. Posted in an earlier thread but either folks didn’t read it or, for some reason, don’t see it as revelatory and, perhaps, even important to consider.

So even as regular Democratic voters are concentrating on beating Donald Trump. . .

Yes, concentrating on Trump, who is engulfed in an October Shitstorm surrounding his icky sexual misbehavior, both admitted and alleged, which coincidentally (?), but certainly conveniently, exploded into the media just as a trove of deeply-disturbing Clinton emails have been released to the world.

Mark and Luis – digital created a fake craigslist jobs post for women who want to apply to jobs one of Trump’s organizations. This will be a microsite and we still need to send it to Perkins. Since we will be pitching this, need your approval please. Thanks

—
Multiple Positions (NYC area) Seeking staff members for multiple positions in a large, New York-based corporation known for its real estate investments, fake universities, steaks, and wine. The boss has very strict standards for female employees, ranging from the women who take lunch orders (must be hot) to the women who oversee multi-million dollar construction projects (must maintain hotness demonstrated at time of hiring).

Title: Honey Bunch (that’s what the boss will call you)

Job requirements:

* No gaining weight on the job (we’ll take some “before” pictures when you start to use later as evidence)

* Must be open to public humiliation and open-press workouts if you do gain weight on the job

* A willingness to evaluate other women’s hotness for the boss’ satisfaction is a plus

* Should be proficient in lying about age if the boss thinks you’re too old Working mothers not preferred (the boss finds pumping breast milk disgusting, and worries they’re too focused on their children).

About us: We’re proud to maintain a “fun” and “friendly work environment, where the boss is always available to meet with his employees. Like it or not, he may greet you with a kiss on the lips or grope you under the meeting table. Interested applicants should send resume, cover letter, and headshot to

jobsATtrumpDOTcom

Now, of course, just because a party and/or campaign concocted and approved a sleazy scheme like this doesn’t mean it or they would hold in reserve the makings of a monster sex scandal to be used “in case of need.” And even if they would, it doesn’t mean they did.

Hillary Clinton is not the president at this time. Naming her as president is not going to help either.
“TREATING THE WHOLE voting thing as a formality, serious political players are now pondering how exactly President Hillary Clinton can pass what Sen. Elizabeth Warren has called “a giant wet kiss for tax dodgers.”

Tax policy is complicated. Getting the voters involved in the process would only make it more complicated. Better to distract the voters with questions of whether Mr. Trump groped someone 26 years ago, while the government and corporations work out a deal together.

The voters are happy (or at least distracted), the government is happy and the corporations are happy. Mr. Schwarz and a small number of Intercept readers may be unhappy, but you can’t please everyone.

So, how long do you think it will take for Trump and the Clintons to re-ignite their friendship after the election? I’d say 8 months to a year–we’ll see a picture in the Post of Bill and Don having lunch at some 5 star restaurant, smiling and laughing. Maybe their daughters can get them back together. Chelsea and Ivanka were close before this whole damned craziness started, so that could wind up fueling a real heart-warming rapprochement.

We can talk about how Clinton will be a responsible steward of the status quo, and use that as an argument in favor of making sure Trump is defeated. But, we should also be aware that the status quo has a ratchet. And, that winching action only goes in one direction. What’s being described here is that we can have safe bridges, non-toxic water, and other “first world” amenities as long as corporate USA agrees we can have them, and on their preferred terms. We’re approaching the point where corporate USA could legitimately argue, “We built this.” I-95 ceases to be part of our and Eisenhower’s interstate highway system and becomes Apple, Inc. Parkway, instead. This really is unacceptable….or, ought to be.

How is the agreement of corporate America involved? And how do corporate taxes give corporations the right to claim or name the things those taxes built? Can you give one example of this happening? The status quo does not go in only one direction as is evidenced by any reading of US history? It may not move swiftly or radically but it moves in both directions.

Seems its only ever moved towards increasing wealth and power for the rich and the chosen few. That is all US history shows. You seem to be distracted by calculated handouts to select groups that then allow the power structures to be further legitimized.

nonsense, please tell me who the chosen few are and how they were chosen. I am not distracted by anything, just not taken in by a bunch of rhetoric that is meaningless. Please explain you black exceptionalism comment.

Why would they argue they built it when they can just take advantage of the poor economic and budgetary situations many states find themselves in and just buy/lease the public infrastructure for 50/100 years for a fraction of the actual value? Oh wait…

“We built this.” I-95 ceases to be part of our and Eisenhower’s interstate highway system and becomes Apple, Inc. Parkway, instead. This really is unacceptable….or, ought to be.

WA state has privatized a big section of I-405 (a spur off I-5 around Seattle) for tolling. The state spent over $100 million to add 2 lanes to the interstate and a private company operates the toll collections for a 55% cut. The tolls max out at $10 and you might save 10-15 minutes on your trip. This is considered an improvement to Seattle’s notorious traffic (we’re 4th worst). Many people have bailed on the interstate completely and are clogging parallel side streets. Over-all traffic is worse.
Over a few months, the state made some $6 million to put back against the $100 + they blew up-front while a private company pocketed $7 mil.

Never mind that the bulk of people cannot afford to spend 12% of their take-home pay (assuming $15/hr pay rate) to save a few minutes. Businesses use the tolls and they can pass that on but the wealthy, well, what is a ten dollar bill …
The collection company argued the max toll should be $15 because the lanes are full often. They lobbied congress but they did not get that bump, this time. The company squealed when people demanded the tolls be dropped on weekends. The state went with the people and now the tolls are open on weekends. But it’s a cash-cow 5 days a week.